McCain: Greed created Wall St. problems

September 16, 2008 10:07:06 AM PDT
Republican presidential candidate John McCain says Wall Street's financial turmoil is the result of unchecked corporate greed.The Republican says government must protect the public from investment schemes too complex for people to understand or regulate.

McCain told a crowd of several thousand at a rally Tuesday in Tampa, Florida, that people have the right to know when their jobs and pensions and the entire economy are, in his words, "being put at risk by recklessness on Wall Street."

McCain has a reputation as a free-marketeer, but he says that Washington regulatory agencies need to be overhauled.

Instead of a dozen federal agencies behaving badly, he says the nation needs the best ones doing the right job.

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